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Lebowski
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Edison, with all due respect, I'm pretty surprised at your generic advice " if you are sure you will score higher then it is not a bad idea to do so"

Firstly, his GMAT is already 750, even if he gets 780 in the next try, it is not considered as a significant improvement as plus minus 30 points is the normal variation. Most people I know (including advisers) would recommend people with >730 GMAT not to retake and they should focus on their other parts of applications instead (essays, recos, etc).

Secondly, how can someone who were already well-prepared be 'sure' that they will score higher? Nobody can be sure about it.
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Yes I fully agree greenzie ....I believe the pros that you can achieve by getting a 770-780 is heavily outweighed by the chance of possibly even scoring lower. A 750 is high enough that it will be extremely difficult to raise that and in the case you might score lower ( bad luck / having a bad test day) it could actually even hurt .....seeing just a 1 GMAT take of 750 is pretty impressive. At that point you would be best rewarded by putting your efforts into your apps extra C and networking instead =].
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Jay2016
Yes I fully agree greenzie ....I believe the pros that you can achieve by getting a 770-780 is heavily outweighed by the chance of possibly even scoring lower. A 750 is high enough that it will be extremely difficult to raise that and in the case you might score lower ( bad luck / having a bad test day) it could actually even hurt .....seeing just a 1 GMAT take of 750 is pretty impressive. At that point you would be best rewarded by putting your efforts into your apps extra C and networking instead =].

Totally agree,
and anyhow once you are at a 750, the schools don't care not even a little bit if you have an 800. The GMAT is a threshold to pass, and you've passed it! Great! Break out the champagne!!!
And now work on your other stuff,

Best,
Jon
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Thanks everyone for the responses. After seeing the replies here and also getting advice from a few more people, I have decided to let my GMAT be :)

How much do you guys think the low GPA would hurt my case given my circumstances?
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If you have a good 'excuse' and put it well in your essay, not that much! 3.1 is not horrible!
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While you already decided to leave the GMAT, I wanted to give my thoughts that I completely agree. It's not worth it to retake at this point.

The GMAT outweighs the low GPA and that can be explained in the optional essays anyway so you definitely should. I regularly work with applicants who have a low GPA and they get in if they ace the GMAT and have impressive experience.

Since you started the company yourself, it makes sense to ask any advisors or investors if you have any. If you do not, I'll brainstorm other options with you if you would like. Some applicants also use clients or cofounders if need be.

Are you open to other regions? You prefer Silicon Valley but what about the East Coast? Let me know and I'll give some thoughts.

Best,
Scott
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Congrats on a killer GMAT - you're done with that test! Your GPA is something that can be overcome, but we can't assume away the problem. We need to address it head on in your optional essay depending on what the circumstances were. Also, I think it's time to focus on your story. While building your network is important, I'd encourage you to think about other ways a top tier MBA will help propel your career and help you achieve your goals. Also, the size, scope, and performance of your firm will impact the value the AdComm places on that experience. So, your partners could be a good option for LORs, but we may want to explore alternatives. Your lack on involvement is another weak spot that we'll have to overcome. If you'd like to chat more about how we can help you, sign up for a free consultation below - we'd love to chat! Best of luck!